St. Jude Medical Announces Public Offering of Senior Notes

St. Jude Medical Announces Public Offering of Senior Notes
Business Wire
ST. PAUL, Minn. -- March 21, 2013
St. Jude Medical, Inc. (NYSE:STJ) today announced that it has priced an
offering to sell $900 million of senior notes due 2023 (the "2023 Notes") and
$700 million of senior notes due 2043 (the "2043 Notes"). The 2023 Notes will
bear interest at 3.25% per year and, unless previously redeemed, will mature
on April 15, 2023. The 2043 Notes will bear interest at 4.75% per year and,
unless previously redeemed, will mature on April 15, 2043.
The company intends to use the net proceeds to redeem in full its 3.75% senior
notes due 2014 of which $700 million aggregate principal amount is outstanding
and redeem in full its 4.875% senior notes due 2019 of which $500 million
aggregate principal amount is outstanding and for general corporate purposes,
which may include the repayment of short-term indebtedness.
BofA Merrill Lynch, Wells Fargo Securities and US Bancorp are acting as joint
book-running managers for the offering. A shelf registration statement
relating to the offering was filed with the U.S. Securities and Exchange
Commission on March 21, 2013. This offering was made pursuant to a prospectus
supplement to the company’s prospectus, dated March 21, 2013, filed as part of
the company’s effective shelf registration statement relating to these
securities.
Copies of the prospectus supplement and accompanying prospectus relating to
these securities may be obtained by contacting St. Jude Medical, One St. Jude
Medical Drive, St. Paul, Minnesota 55117, Attention: Investor Relations
Department.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other jurisdiction.
About St. Jude Medical
St. Jude Medical develops medical technology and services that focus on
putting more control into the hands of those who treat cardiac, neurological
and chronic pain patients worldwide. The company is dedicated to advancing the
practice of medicine by reducing risk wherever possible and contributing to
successful outcomes for every patient. St. Jude Medical is headquartered in
St. Paul, Minn., and has four major focus areas that include cardiac rhythm
management, atrial fibrillation, cardiovascular and neuromodulation. For more
information, please visit sjm.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. Such forward-looking statements include those regarding the
Company's planned offering and the anticipated use of proceeds. The statements
made by the Company are based upon management’s current expectations and are
subject to certain risks and uncertainties. These risks and uncertainties
include market conditions and other factors beyond the Company’s control and
the risk factors and other cautionary statements described in the Company’s
filings with the SEC, including those described in the Risk Factors and
Cautionary Statements sections of the Company’s Annual Report on Form 10-K for
the fiscal year ended December 29, 2012. The Company does not intend to update
these statements and undertakes no duty to any person to provide any such
update under any circumstance.
Contact:
St. Jude Medical, Inc.
J.C. Weigelt, 651-756-4347
Investor Relations
jweigelt@sjm.com